Civeo Corporation announced on May 7, 2025, the completion of its previously announced acquisition of four villages with 1,340 rooms in Australia’s Bowen Basin. The transaction, valued at A$105 million, or approximately US$67 million, also includes associated customer contracts.
The acquisition was funded with cash on hand and borrowings from Civeo’s existing revolving credit facility. It is expected to add approximately US$32 million in annualized revenue and US$17 million in annualized Adjusted EBITDA, strengthening Civeo’s presence and relationships with metallurgical coal producers in the region.
Following the completion of this acquisition, Civeo updated its full-year 2025 guidance. The company now expects revenues in the range of $640 million to $670 million and Adjusted EBITDA between $86 million and $96 million. The capital expenditure guidance remains unchanged at $20 million to $25 million.
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